Filing Flows › Ferguson Enterprises (FERG) › Q1 2025
Ferguson Enterprises (FERG) Q1 2025 earnings results (first quarter 2025)
10-Q filed Mar 11, 2025
Ferguson Enterprises (FERG) reported revenue of $6.9B for the first quarter 2025 (Q1 2025), +3% from a year earlier and -12% from the quarter before. Operating margin was 6.0%, net earnings $276M (4.0% of revenue).
Ferguson Enterprises, Q1 2025: revenue $6.9B (+3% year over year), operating margin 6.0%, net earnings $276M, operating cash flow $340M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.9B | -12% | +3% |
| Gross profit | $2.0B | -13% | +0.6% |
| Operating profit | $410M | -38% | -14% |
| Net earnings | $276M | -41% | -14% |
| Operating cash flow | $340M | -1% | +11% |
| Free cash flow | $259M | -3% | +26% |
What changed
Revenue was $6.9B in Q1 2025, up 3% year over year and down 12% from the previous quarter. United States Segment was the largest line at 95% of revenue. United States Segment added $0.19B year over year (up 3%), 95% of the total change.
Gross margin was 29.7%, down 0.7 points from a year earlier. Operating profit was $0.41B, a 6.0% margin (down 1.2 points year over year). Operating profit fell $0.07B even though revenue rose $0.20B versus a year earlier, so costs grew faster than sales. Operating expenses grew 5% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+11%). Net earnings were $0.28B, down 14% year over year. The effective tax rate was 25.4%.
Operating cash flow was $0.34B (up 11% year over year), 123% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $0.03B. Capital expenditures of $0.08B left free cash flow of $0.26B.
Questions
What was Ferguson Enterprises' revenue in the first quarter 2025?
Ferguson Enterprises (FERG) reported revenue of $6.9B for the first quarter 2025 (Q1 2025), +3% from a year earlier and -12% from the quarter before.
Was Ferguson Enterprises profitable in the first quarter 2025?
Operating profit was $410M (6.0% of revenue) and net earnings $276M.